SHFE aluminium falls, East China premium pulls back
Today, the centre of SHFE aluminium futures fell from the previous trading day, market shipment sentiment was relatively pronounced, and overall spot aluminium transactions shifted to discounts. Today, market transactions for A00 aluminium ingot premiums were between a discount of RMB 40 per tonne...
Concerns over liquidity tightening ease marginally, aluminium prices are under pressure at high levels in the short term
Futures: SHFE aluminium closed at RMB 24,010 per tonne, down 0.62 per cent, with the price breaking below MA5 (around 24,160) but holding slightly above MA10 (23,988.5); short-term moving average support faces a test, while medium-term MA30 (23,469.5) and MA60 (23,699.67) remain in bullish...
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South China Aluminum: Aluminum Futures Drop Further with Wait-and-See Sentiment Growing
SHFE aluminum dropped further in the afternoon on Monday, causing spot aluminum prices in south China to fall. Traded prices were dragged down by depressed downstream consumption to nearly RMB 16,900/mt. Despite bearish outlook, cargo holders were reluctantly to sell goods at low prices. There was...
SMM Brief Review - 2011/10/10 SHFE Aluminum Futures
The most active SHFE 1112 aluminum contract opened higher at RMB 16,600/mt on October 10th following LME copper’s gains in the holiday period. After hitting RMB 16,700/mt in the afternoon with position increases among both longs and shorts, the contract finally closed at RMB 16,675/mt, up RMB...
Outlook on Aluminium: Kotak Commodity
MCX Aluminum may trade with positive bias tracking international exchange. Prices may continue to seek support from falling stocks at exchange warehouses. Stocks at LME fell 18600 tonnes last week. Support for Aluminum October contract is seen at Rs.107 while resistance of Rs.110.5.
LME aluminum to consolidate in USD 2203 range
LME aluminum is expected to consolidate in a range of USD 2,130 per tonne to USD 2,203 per tonne for one trading session as it is riding on a wave (4). A Fibonacci retracement on the wave (3) fall from USD 2,438 to USD 2,130 reveals a target for a weak wave (4) at USD 2,203, the 23.6% level while a...
SMM Brief Review - 2011/9/29 SHFE Aluminum Futures
The most active SHFE 1112 aluminum contract gapped over 2% lower at RMB 16,160/mt on September 29th due to reignited investor worries towards a default by Greece. The contract was pressed to an intraday low of RMB 16,020/mt by increased short selling during early trading hours, but rebounded later...
Outlook on Aluminum: Kotak Commodity
MCX Aluminum may note some decline tracking copper prices. However, falling stocks at SHFE warehouses may cap the downside. Stocks at SHFE fell 9.6% or 10537 tonnes last week while those at LME fell by 5575 tonnes yesterday. Support for Aluminum September contract is seen at Rs.107 while resistance...
SMM Brief Review - 2011/9/28 SHFE Aluminum Futures
The most active SHFE 1112 aluminum contract opened higher at RMB 16,630/mt on September 28th, and stood steady at the 5-day moving average in the morning supported by profit-taking by the shorts. In the afternoon, after Shanghai Composite Index dipped below the 2,400 mark, increased short selling...
South China Aluminum: Plunging Aluminum Futures Prices Result in Cautious Attitudes
LME aluminum prices kept dropping in the afternoon and again fell below USD 2,200/mt, pulling SHFE aluminum prices down after its afternoon opening. Downstream buyers in south China exited the market and were on the sidelines due to the intensified bearish mood, left only a low trading volume...
SMM Daily Review - 2011/9/23 Aluminum Market
Most active SHFE 1112 aluminum contract gapped lower by over 2% at RMB 16,705/mt on September 23rd due to plunges in global financial markets overnight. The contract slipped slightly in the morning, and fell to a stop with other base metals contracts in the afternoon due to an inrush of short...
SMM Brief Review - 2011/9/23 SHFE Aluminum Futures
Most active SHFE 1112 aluminum contract gapped lower by over 2% today at RMB 16,705/mt due to plunges in global financial markets overnight. The contract slipped slightly in the morning, and fell to a stop in the afternoon with other base metals contracts due to an inrush of short capital. It...
SMM Daily Review - 2011/9/22 Aluminum Market
Most active SHFE aluminum contract was changed to 1112 on September 22nd, and opened lower at RMB 17,005/mt in the morning. The contract dropped to an intraday low of RMB 16,860/mt later due to falling stock prices and strengthening US dollar, and finally closed at RMB 16,980/mt, down RMB 120/mt or...
SMM Morning Review - 2011/9/23 Aluminum Market
Investors sold off their assets in panic overnight due to weak manufacturing data and debt aid discrepancies in Europe and disappointing jobs data and pessimistic Fed economic remarks in the US, with the US dollar index climbing to an intraday high of 78.798 and LME aluminum plunging with...
SMM Daily Review - 2011/9/21 Aluminum Market
Most active SHFE 1111 aluminum contract opened lower at RMB 17,155/mt on September 21st, and rebounded later with climbing Shanghai stock prices to broke through the 5-day moving average. The contract remained strong in the afternoon, and finally closed at RMB 17,290/mt, up RMB 115/mt or 0.67% from...
East China Aluminum: Spot Price Climbs with Gaining Futures, Reselling Dominates Market
Traded prices of spot aluminum in Shanghai were between RMB 17,530-17,560/mt on September 21st, with premiums of RMB 100-120/mt over SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 17,600-17,640/mt. Traded prices of spot aluminum in Wuxi were between RMB...
SMM Daily Review - 2011/9/20 Aluminum Market
Most active SHFE 1111 aluminum contract opened lower at RMB 17,120/mt on September 20th and stabilized in the morning following a plunge during previous trading day. The contract hit an intraday high of RMB 17,225/mt in the afternoon, but fluctuated downward later due to strong resistance at the...
SMM Brief Review - 2011/9/20 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened lower at RMB 17,120/mt on September 20th, and stabilized in the morning following a plunge during previous trading day. The contract hit an intraday high of RMB 17,225/mt in the afternoon, but fluctuated downward later due to strong resistance at the...
East China Aluminum: Aluminum Futures Stabilize, Supply & Demand Contract
Traded prices of spot aluminum in Shanghai were between RMB 17,470-17,510/mt on September 20th, with premiums of RMB 120-160/mt over SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 17,560-17,600/mt. Traded prices of spot aluminum in Wuxi were between RMB...
SMM Daily Review - 2011/9/19 Aluminum Market
Most active SHFE 1111 aluminum contract gapped lower at RMB 17,100/mt on September 19th due to aggressive short selling, and climbed to an intraday high of RMB 17,290/mt during initial trading hours on profit taking by the shorts. After the longs were forced to exit due to worries towards a...
